RECORD OF PROCEEDINGS

BOARD OF DIRECTORS’ REGULAR MEETING
THE KNOLLS VILLAGE TOWNHOUSE ASSOCIATION

A regular meeting of The Knolls Village Townhouse Association was held on Tuesday, March 1, 2005 at the association clubhouse at 7:00 PM. Present were directors Ken Holloman, Barbara Arnold, Loren Rohl, Kathleen Sutton and Martin Jepkes; Committee Chair Don Boyson; and Manager Warren Deutsch. Joan Rowe was present to record the proceedings. Also present was Harold Arnold.

Barbara Arnold made a motion to approve the minutes of the February 1, 2005 meeting as written. The motion was seconded by Martin Jepkes and was passed.

Action on the resolution regarding the painting over-run in 2004 was tabled until the next meeting so that Board members can read the documents from the association’s attorney and CPA.

A motion was made by Barbara Arnold and seconded by Loren Rohl to accept the financial statements for January and February as presented. The motion was passed.

Don Boyson, Architectural Control Committee, reported that units needing repair work before painting have been noted and the owners will be contacted regarding those repairs. The repair work will need to be done by mid-April because the painting is scheduled to begin the last week of April. On April 2, 2005 a meeting will be held at the clubhouse between the paint contractor and the owners of the units in this year’s painting cycle.

Barbara Arnold made a motion to accept the proposal from Platte River Capital Projects for the 2005 painting cycle. The motion was seconded by Loren Rohl and was passed.

The newsletter deadline is March 3, 2005. The newsletter will be delivered to the back gate of each residence and a copy will be mailed to each absentee owners.

Warren Deutsch stated that Jean Oatman and Shelly Cleveland are interested in working at the pool this summer. Another part-time person will be needed. A motion was made by Barbara Arnold and seconded by Kathleen Sutton to pay for two pool attendants to attend the Tri County Health Certified Pool Operator Course in mid-April and to pay each attendant $116.00 for time spent at the course, lunch money and mileage. The motion was passed.

Warren Deutsch reported that the asphalt repairs have been completed. Twelve of twenty-one replacement trees have been planted. Knolls Townhouse Association is requesting support from Knolls Village in requesting the South Arapahoe Sanitation District to maintain a sewer outflow line currently being maintained by Knolls Townhouse Association and used by both Knolls Townhouses and Knolls Village.

Barbara Arnold stated that the current amount of reserves is $414,953.00. The painting escrow account is $21,117.00.

A motion was made by Barbara Arnold to transfer the 2004 operating income surplus of $42,989.00 to reserves. Martin Jepkes seconded the motion and it was passed.

Barbara Arnold made a motion to accept the audited financial statements prepared by the association CPA, as corrected. The motion was seconded by Martin Jepkes and it was passed.

Board members will walk the complex on Saturday, March 19, 2005 to plan for projects for this year. Board members were asked to review the pool rules and compare to other association’s rules. At the next meeting, the rules will be finalized, the pay scale for pool attendants will be set and the hours of operations will be set. Fred Langford asked the Board for discussion of some issues regarding the web-site.

Letters will be sent to violators using the fire lanes for parking. The City of Centennial will be contacted regarding the status of the fire lane designation.

There being no further business, the meeting was adjourned.